Salvage 1 страница

с гасение (судна и/или груза)

inexpedience

нецел ^сообразность

Unit 9

[[methods of payment

Lesson 1

Accounts may be paid by means of international money order (for small private transactions), banker's transfer (direct transfer from buyer's to seller's bank), bill of exchange and letter of credit.

The banker's transfer is a simple transference of money from the bank account of a buyer in his own country to the bank account of the seller in the seller's country. The transfer is carried out at current exchange rates. Such transfers are subject to any exchange control regulations of the countries concerned. This transaction is simple and can be speeded up by cabled instructions if desired.

The bill of exchange (B/E) is an order in writing from a creditor to a debtor to pay on demand or on a named date a certain sum of money to a person named on the bill, or to his order. The bill is drawn by the creditor on the debtor, and is sent to the debtor for the latter to pay or accept (i. e. to acknowledge the debt). The debtor accepts by signing his name on the face of the bill, together with the date. The bill now becomes legally binding, and the acceptor must meet it on or before the due date.

The creditor (drawer) can order the debtor(drawee) to pay the money to any bank named by him on the bill. The drawee, in ac­cepting the bill, can add the name of the bank which he wishes to pay the bill. In this case, the bill stays with the drawer's bank till due for payment, when it will be presented to the paying bank for settlement. Such a bill is said to be domiciled with the holding bank. The B/E is negotiable, which means that it can be used by the holder to pay debts of his own (i. e. he can negotiate it). To do this, the holder must endorse it, i. e. sign his name on the back of the bill before passing it on to the new holder. The holder may as well sell the bill to the bank, who will pay the face value, less in­terest, i. e. discount a bill; or leave the bill with a bank as security for a loan.

Failure to meet a bill on the due date would result in total dis­credit for the drawee, and the legal action can follow. An unpaid bill is said to be dishonoured, and the drawer can protest it, which clears the way for him to prosecute (take legal action against) the drawee.

endorsement передаточная надпись (на чеке, векселе

и т. д.), индоссамент, жиро, подпись на

__________________ обороте, подтверждение ______________

confirmed letter of подтвержденный аккредитив credit

Exercises

Exercise 1. Find equivalents in English.

Безотзывный аккредитив, дисконтная ставка, по требова­нию, банк-акцептант, обеспечение кредита, выписывать век­сель на кого-либо, домицилирование векселя, обращаемый, номинальная стоимость, векселедержатель, вексельный обо­рот, ремитент, предъявлять вексель к акцепту, опротестовать вексель, индоссамент, обязанное по векселю лицо, индоссант, простой вексель, векселедатель, плательщик, срок по векселю, возлагать обязательства, полный индоссамент.

Exercise 2. Translate into Russian.

1. A bill payable on demand is deemed to be overdue when it appears on the face of it to have been in circulation for an unrea­sonable length of time, the question of unreasonableness being one of the fact.

2. If the drawee refuses to accept the holder has an immediate right of recourse against prior parties without being compelled to wait for the date of maturity.

3. Once the due date has passed, the bill is said to be overdue, and failure to present on that day discharges the drawer and endorsers, unless the holder can bring himself within the exemptive provision.

4. Delay in presenting a bill for payment does not discharge the drawer, unless he suffers actual losses through the delay.

5. A note payable on demand is intended as a continuing secu­rity and is negotiated as such.

6. The paying banker is liable in conversion to the true owner, the damages recoverable being the face value of the bill.

7. A banker is not to be treated as having been negligent by rea­son only of his failure to concern himself with absence of, or ir­regularity in, endorsement of an instrument.

Exercise 3, Translate into Russian. Dear Sirs,

We have been doing business with you for nearly a year and are pleased to say that we are more satisfied with the goods you have supplied.

In the coming year we will probably place regular orders with you and our present method of payment by letter of credit will be­come inconvenient. We would also find a short credit of advantage to our trading capacity.

We would therefore like you to supply us on monthly account terms, payment against statement within 30 days. You may refer to Messrs... and Messrs..., with whom we have credit accounts.

Exercise 4. Translate into Russian. Dear Sirs,

With reference to your invoice no.21078 of 23 of July, we have to point out that you have made an error in your total. We calculate the correct figure at $237, not $247 as given by you.

Our cheque for the former amount is enclosed and we should be obliged if you would amend the invoice or pass the necessary credit.

Yours fathfully

Lesson2

APPLICATION FOR DOCUMENTARY CREDIT Please open on our account a Credit in the following terms:

1. This credit is to be {revocable, irrevocable, irrevocable and confirmed)

2. and advised through (Correspondent_____________________

3. In favour of (Beneficiary) (Address)

4. To the extent of (in words)

5. The Credit is to expire on ____________________________ in

________________ (State/Town/Country) (Unless previously

cancelled-if Credit is revocable)

6. The credit is to be available to the beneficiarv's draft.

Drafts to be drawn/payments to be made for the full invoice value and submitted with the under-mentioned documents at­tached.

7. Documents required:

• Invoice

• Policy or Certificate of Insurance in the same currency as

the Credit for CIF Invoice value plus__________ p ercent

covering Marine and War risks.

• Complete set of clean on board Shipping Company's Bill of Lading made out to order and endorsed in blank marked Freight Payable at Destination. Documents must be pre­sented to the paying/accepting/negotiating bank not later

than_______ days after the date of the Bills of Lading or

other shipping documents stated herein and within the credit validity.

8. Covering shipment of FOB/C& F/CIF

9. Price

10. Shipment

from____________________ to_______________________

11. Partial shipment allowed/prohibited

12. Transshipment allowed/prohibited

13. Special Instruction (if any)

14. We give overleaf the information required for Exchange Con-
trol purposes and we agree to pay you a commission
of____________ %

1. The documents and the goods and all proceeds of sales thereof and of insurance thereon and all our rights as unpaid sellers when shall be security to you for all obligations and liabilities incurred by you as Correspondent in connection with this Credit and for all disbursements in connection with the goods or oth­erwise (which we hereby authorize you to pay for our account) and all other our liabilities to you present and future.

2. You may on payment debit our account with all sums paid in connection with this Credit or the goods, also with any commis­sion and interest, or with the whole or part of the amount of the Credit at any time if you think fit, and on demand we will place you in funds to meet such debts, and we will at the latest place you in funds to meet any acceptances three days before their due date or earlier if required. In case of Credits in foreign cur­rency you may pass any such debits in sterling at you rate of exchange, and if passed after payment, at your rate ruling when you receive advice of payment when otherwise arranged. In the event of any default you may sell the documents or goods be­fore or after arrival and any defect we will pay you on demand, and we will indemnify you against all claims, demands, costs, charges, and expenses incurred in connection with this Credit.

3. Your rights against us hereunder shall not be affected by, and you and/or correspondents shall not be responsible for any loss or damage to the goods however and whenever caused, this quantity, quality, condition or their detention by any person whatsoever and howsoever caused, the loss, validity, suffi­ciency or accuracy of the shipping, insurance or any other documents or failure from any reason by you. Correspondents or any other person will be at our risk.

4. If the Credit is revocable it may be cancelled by you at any time, but cancellation by you or by us shall be without prejudice to our respective obligations as regards any bills negotiated or accepted or payments made thereunder before notice of such

5 3ак 5811

cancellation has been received at the place where the Credit is available.

5. All cables in connection with this Credit shall be dispatched at our risk and cost and you shall not be responsible for any loss caused by mistakes, mutilations or omissions in their transmis­sion coding or decoding or interpretation when received by de­lay on the part of the cable companies concerned.

6. If two or more parties sign this document the liabilities here­under are joint and several.

7. This Credit is to be subject to the Union Customs and Practice for Documentary Credits (1974 revision) International Chamber of Commerce Publication No. 290

Accounted s Name and Signature

Exercises

Exercise 1. Find equivalents in English.

Бенефициар, переводной аккредитив, переуступка, ави­зующий банк, банк эмитент, уполномоченный банк, платеж с

рассрочкой, подтверждающий банк, аккредитив с разрешением негоциации любым банком, исполняющий банк, возмещение, непокрытый аккредитив, блокирование счета для покрытия ак­кредитива, страховой депозит, чистый аккредитив, товарорас­порядительные документы, первый бенефициар, исполнение аккредитива, добросовестный держатель, аккредитив с красной оговоркой.

Exercise 2. Fill in the prepositions where necessary.

1. Credits,... their nature, are separate transactions from the sales of other contract(s)... which they may be based and banks are in no way concerned... or bound... such contract(s), even if any reference whatsoever... such contract(s) is included in the Credit.

2. A Beneficiary can in no case avail himself... the contractual relationships existing between banks or between the Applicant and the Issuing bank.

3. The Issuing bank must reimburse another bank... which a revocable Credit has been made available... sight payment, accep­tance or negotiation prior... receipt by it of notice of amendments or cancellation... documents which appear... their face to be... compliance... the terms and conditions of the Credit.

4. A confirmation of an irrevocable Credit by another bank... authorization or request of the Issuing bank, constitutes a definite undertaking of the Confirming bank provided that the stipulated documents are presented... the Confirming bank or... any other Nominated bank and that the terms and conditions of the Credit are complied...

5. The issuing bank shall be irrevocably bound... an amend­ments) issued... it from the time of the issuance of such amend­ments.

6. The terms of the original Credit will remain... force... the Beneficiary until the Beneficiary communicates his acceptance of the amendments... the bank advising such amendments.

7. By nominating another bank, or by allowing... negotiation by any bank, or by authorizing or requesting another bank to add its confirmation, the Issuing bank authorizes such bank to pay, accept

Draft(s) or negotiate as the case may be,... documents which ap­pear... their face to be... compliance... the terms and conditions of the Credit and undertakes to reimburse such bank in accordance... the provisions of these Articles.

8. In addition to stipulating an expiry date... presentation of documents, every Credit which calls... a transport document(s) should also stipulate a specified period of time... the date of ship­ment... which presentation must be made... compliance... the terms and conditions of the Credit.

Exercise 3. Translate into Russian.

a. An irrevocable Credit constitutes a definite undertaking of the Issuing Bank, provided that the stipulated documents are presented to the Nominated Bank or to the Issuing Bank and that the terms and conditions of the Credit are complied with:

i. if the Credit provides for sight payment — to pay at sight;

ii. if the Credit provides for deferred payment — to pay on the maturity date(s) determinable in accordance with the stipulations of the Credit;

iii.if the Credit provides for acceptance:

a. by the Issuing Bank — to accept Draft(s) drawn by the Bene­ficiary on the Issuing Bank and pay them at maturity,

or

b. by another drawee bank — to accept and pay at maturity Drafl(s) drawn by the Beneficiary on the Issuing Bank in the event the drawee bank stipulated in the Credit does not accept Draft(s) drawn on it, or to pay Draft(s) accepted but not paid by such drawee bank at maturity;

iv. if the Credit provides for negotiation — to pay without re­course to drawers and/or bona fide holders, Draft(s) drawn by the Beneficiary and/or document(s) presented under the Credit. A Credit should not be issued available by Draft(s) on the Applicant. If the Credit nevertheless calls for Draft(s) on the Applicant, banks will consider such Draft(s) as an additional document(s).

Exercise 4. Translate into English

1. Унифицированные Правила и Обычаи являются обяза­тельными для исполнения заинтересованными сторонами при отсутствии прямо выраженного в аккредитиве соглашения об ином.

2. Обязательство банка произвести платеж, акцептовать и оплатить тратты или негоциировать и/или выполнить любые другие обязательства по аккредитиву, не может являться предметом каких-либо требований приказодателя или исков к последнему, вытекающих из его договорных отношений с бан­ком-эмитентом или бенефициаром.

3. Погашение задолженности по аккредитиву производится с корреспондентского счета в порядке календарной очередно­сти платежей.

4. При открытии безотзывного неподтвержденного аккре­дитива, авизирующий банк не принимает на себя никаких обя­зательств по платежу и действует от имени банка-эмитента.

5. Отзывный аккредитив может быть изменен или аннули­рован банком-эмитентом по указанию приказодателя аккреди­тива, без предварительного уведомления бенефициара.

6. При подтверждении банком-корреспондентом платежа бенефициару, бенефициар, наряду с обязательством банка-эмитента, имеет юридически равноценное и самостоятельное обязательство банка-корреспондента произвести платеж по документам, сопутствующим аккредитиву и поданным в срок.

7. При открытии переводного (трансферабельного) аккре­дитива, бенефициар (первый бенефициар) имеет право упол­номочить банк, производящий платеж, акцепт или негоциа­цию, или любой уполномоченный негоциировать переводящий банк, предоставить одному или нескольким лицам (вторым бе­нефициарам) пользоваться аккредитивом полностью или час­тично.

8. При оговорке об открытии аккредитива на взаимной ос­нове, банк бенефициара, опираясь на наличие существующего в его пользу аккредитива, открывает встречный аккредитив в пользу поставщика, выступая в роли аппликанта.

9. Банк не имеет права воспользоваться против бенефициа-
ра какими-либо возражениями, которые могут быть заявлены
покупателем товара в отношении продавца (принцип автоном-
ности аккредитива)

10. Аккредитив предусматривает дату истечения срока и ме­сто предоставления документов для оплаты, акцепта или, за ис­ключением свободно обращающихся аккредитивов, место пред­ставления документов для негоциации. Дата истечения срока, предусмотренная для платежа, акцепта или негоциации, пони­мается как дата истечения срока для представления документов.

11. Валютное покрытие аккредитива предоставляется по­средством кредитования счета исполняющего банка.

12. При акцепте, оплате или негоциации тратты бенефи­циара, банк получает право на возмещение понесенных им за­трат по осуществлению всех расходов, в том числе расходов по комиссии и т.д.

13. Чистым транспортным документом является документ, который не имеет дополнительных оговорок или пометок, прямо констатирующих дефектное состояние товара и/или упаковки.

14. Тот факт, что аккредитив не заявлен как переводной, не отражается на праве бенефициара переуступать какие-либо по­ступления по аккредитиву, на которые он может иметь или по­лучить право согласно положениям соответствующего закона Настоящее положение относится только к переуступке посту­плений, но не к переуступке права участвовать в операциях с аккредитивом.

15. Все разногласия, возникающие в связи с настоящим контрактом, должны быть решены в соответствии с Правилами примирения и арбитража Международной торговой палаты одним или более третейскими судьями, назначенными в соот­ветствии с вышеупомянутыми Правилами.

Exercise 5. Translate into Russian

1. We have pleasure in enclosing herewith our invoice to the amount of $55.67, on payment of which the order will be dispatched.

2. We have pleasure in enclosing our statement of account for all transactions up to 24 March. Please check the entries and if you find them correct, kindly carry forward the total of $... to the April ac­count.

3. Will you please let us have your cheque for the amount of the enclosed statement.

4. The balance of $100 left uncleared by your September pay­ment has been brought forward to the enclosed statement for Octo­ber and we would appreciate early settlement of the total amount now due.

5. Attached to this letter you will find our statement showing a balance of $2, 356: we are drawing on you for this amount.

6. We enclose our money order for $200 in settlement of your invoice no.000 of 24 March.

7. Thank you for prompt sending of the invoice. We have today transferred the amount of $400 to the Bank of Japan for your credit.

8. Many thanks for your pro-forma invoice. We accept this price and are making immediate payment to our bank, who will notify you of the credit in due course.

9. Your statement of our account for the last quarter has been re­ceived and found correct. We have instructed our bank to remit the amount of $2, 456.89 for the credit of your account at...Bank, Lon­don.

10. We are glad to advise you that your statement of our account
as at June 30 corresponds with our books and we shall be pleased to
accept your bill of exchange for this amount.

Lesson 3

SHORT TERM CREDIT AGREEMENT

Between:

hereinafter called the " Borrower", and:

hereinafter called the " Lender",

It is now agreed that:

Article 1 - Purpose of the Credit

The purpose of this credit is to finance general corporate activi­ties of the Borrower.

Article 2 - Amount and Term of the Credit

In accordance with the terms and conditions hereafter, the " Lender" will hold available to the " Borrower" a line of credit (the " Credit") not to exceed USD...(...) as from... until....

Article 3 — Drawdown

The Credit can be used in several drawdowns. Each drawdown under the Credit can only be made in US Dol­lars.

The day of issue the drawdown may only be a day where the banks in New-York, Brussels, Moscow or London are open for business. If the maturity date of a drawdown falls on a day when these banks are closed, this maturity date will be extended to the immediately succeeding business day.

Article 4 — Interest

The drawdown of the Credit granted will bear interest at a rate equal to the LIBOR (London Interbank Offered Rate) two business day prior to issue of each drawdown, as such is shown on Reuters at 11.30 am for loans of the same currency, category and for the same amount plus a margin of 4, 50% per annum.

Interests will be payable in cash, at the maturity date of each drawdown, and will be calculated by the number of days corre­sponding to the drawing on the basis of a year of360 days

The rate of interest so determined will remain fixed during the term of the each drawdown. It will however be subject to variation in any cases set out in Article 9 hereafter.

Article 5 — Prepayment

The Borrower will have the facility, by giving notice of five business days prior to the prepayment date and with effect from the said date, to repay all or part of the Credit.

In such a case, the Lender may then reserve the right to ask the Borrower to pay an indemnity for the eventual prejudice and costs supported by the Lender.

Article 6 — Covenants

As long as any amount remains outstanding hereunder, the Bor­rower undertakes that it shall:

— take any action required to the effect that the credit ranks and continues to rank in right of payment and security at least " pari passu" with all its other debts of the same nature and towards a third party of the same nature as the present agreement;

— not permit any mortgage, charge or other encumbrance to be granted after the date hereof over the whole or any part of its proper­ties or assets to secure any of its present or future commitments unless the benefit of such security is at the same time extended in manner satisfactory to the Lender to cover all sums owing hereunder.

Article 7 — Fees

There will be no arrangement fee on this Credit.

Article 8 — Representations and warranties

The Borrower represents and warrants that it is a company properly incorporated in Russia, having full capacity to enter into this Agreement.

The Borrower represents and warrants that its obligation to pay the principal, interest and ancillary expenses relating to this Agreement constitutes a direct, unconditional and general obliga­tion of the Borrower which ranks equally with all its other debts contracted by way of loans of the same nature as this Credit and for the same term.

The Borrower represents and warrants that the present agree­ment is valid and binding in all respects.

The Borrower represents and warrants that all information (such as reports, financial statements) furnished by him to the Lender does not contain any material misstatement of fact and did not omit to state any material fact.

The Borrower represents and warrants that, as of the date of the present agreement, it is not in default of any obligation, covenant or

other commitment with respect to other loans or agreements with third parties.

Article 9 — Tax Regimes: Lender Charges

All payments of principal, interest and ancillary expenses in fa­vour of the Lender will be made without set off against all sums which may be due by the Lender to the Borrower and net of all du­ties, imposts and taxes of whatever nature, present or future, paid, recovered or withheld by any Fiscal Authority.

In the case where any laws or regulations require the Borrower to deduct from the sums due to the Lender, imposts, taxes or duties, of whatever nature, the Borrower undertakes to increase appropri­ately the sums due to the Lender in order for the Lender to receive in full the sums for which it is creditor under this Agreement.

Generally, the Borrower undertakes to indemnify the Lender, by way of additional interest, for any increase of charges that would result from a change in fiscal legislation after the time of the signa­ture of this Agreement.

Article 10 — Events of Default

If any of the following event occurs:

a) the Borrower does not pay into the bank account of the choice of the Lender on its due date, any amount of principal, inter­est or ancillary expenses due by virtue of this Agreement, or

b) the Borrower does not respect any other undertaking given by virtue hereof and this breach is not remedied within 15 business days following the request from the Lender to perform the said ob­ligation; or

c) the Borrower ceases to carry on its business, declares a sus­pension of payments or a state of bankruptcy, benefits or is subject to a reorganization judgment, declares a moratorium or such other similar measure is taken, or the Borrower applies for the appoint­ments of a liquidator, receiver or administrator or similar official or seeks an administration order to adjudicate itself bankrupt or insol­vent; or

d) an event occurs which has an adverse effect on the financial situation of the Borrower which leads the Lender to conclude that the Borrower cannot fulfil its obligations under this Agreement; or

e) the Borrower does not pay on its due date any sum whatever due by virtue of an obligation other than those under this Agree­ment or the BoiTOwer is obliged to repay before its normal maturity date another loan by reason of any breach whatsoever on its part of the terms of the contract relating thereto; or

f) any declaration made by the Borrower or any statement or declaration signed by a representative of the Borrower or delivered under this Agreement is shown to be or becomes untrue,